Hey folks. Today I want to play you an extended version of my interview that ran on yesterday's show with Daniel Chait. He's the CEO and co-founder of Greenhouse, and because of his job, he had a lot of insights about the job market. There's a bunch of stuff in this interview I found really helpful, especially as we're all trying to figure out why it's getting harder and harder for young college graduates to find a job. You join me in our studio in New York.

It was a lot of fun. Here's the interview.

Daniel, thanks for joining me. Hey, great to be here. So Daniel, for folks who have not used greenhouse

before, tell me what exactly does it do? Yeah, so if you've ever applied to a job, you've probably gone to a company's website and looked for a job listing that you're interested in, filled in your name, and maybe retyped your LinkedIn profile again and hit submit. That information all goes somewhere. Well, it turns out that when you hire someone at a company, a whole bunch of work has to happen in order to make that hire. You have to think about what the job description is. You have to talk about who's going to do the interviews and what are

they going to ask. And then, of course, you have to process thousands of candidates and ultimately

make an offer and hire. All that work happens collaboratively in Greenhouse. So we're the sort of

internal hiring platform that companies use to run all of their hiring. We actually use greenhouse for our hiring process. I think a lot of our team has actually

been hired through greenhouse. I think one thing that I want to zone in a little bit on

it, Daniels, a LinkedIn report found that global hiring is 20% below pre-pandemic levels.

Given that greenhouse is used by so many companies, have you noticed a slowdown in applicants

recently?

Yeah, well, we've noticed a few different things happening in the job market, and none of them

great.

Greenhouse processed last quarter about 65 million job applications across all of our customers.

Wow.

So there's lots of job-seeking activity that that we see and we see what happens in the hiring

funnels and things like that.

And similar to what you've seen elsewhere, we've definitely seen a drop in hiring activity.

But the other thing that you may not see as a job seeker is at the same time as that's

happening, companies are under a huge amount of pressure to do more with less.

Their own teams, in particular their own recruiting teams, are often shrinking and suffering from

budget cuts. And so the number of applications per recruiter has gone up even faster.

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